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is suing the faa to halt the budget cuts. >> the faa has and should have exercised the discretion not to furlough air traffic controllers who never in the history have been furloughed before by any budget sequestration or any shutdown of the faa or anything like that. >> and even the white house admits this was never supposed to happen. at reagan national airport, i'm hampton pierson for "nightly business report." >> flying may be more difficult these days but there's good news for drivers. prices at the pump are down $.11 a gallon over the last two weeks and could fall by another.20 as we get closer to memorand e err memorial day. >>> leading sectors were energy and technology, ahead of the after the bell earnings. the dow ended the day 19 points higher and the s&p 500 added 7. the price of gold rebounded today, surging nearly $26 to $1,421 announced. but last week as the price of gold was falling, investors pulled $2.7 billion out of gold exchanged traded funds. most of the money was invested in international stock. >> turning to market focus. texas instruments reported the prof
the stock is having such a tough time lately dropping below 400 just last week. >>> then the faa warning about long airport delays because of government budget cuts. but in addition to grounding your travel plans, the cuts could also prevent your portfolio from taking flight which we will look at coming up. >>> don't miss my exclusive interview coming up with johnson & johnson ceo alex gorsky. that stock hitting an all-time high today. how he plans to push it even higher. that and a lot more coming up on the "closing bell," most important hour of the trading day right now. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ is apple >>> apple is looking a little more polished today. the beaten down stock one
'll get the analyst behind that call ahead. >> also the sequester effect on travel. >> faa employee furloughs and our major airport delays and all in the future and former department of transportation inspector mary shafo live. another monday morning, david, in which you've propelled a major dow component, microsoft up over 4% on the news that an activist shareholder is buying a $2 billion stake. so i think by my calculations you've created on that report about $2.5 billion of value so far this monday morning. >> simon, it's the value being created by the news itself, not the fact that i've reported it and we've been able to tell people that value act, large activist fund that often does take large positions in companies and actually doesn't get active if things go their way have taken a $2 billion position. on a relative bases it's 1% or less than 1% overall is what it would amount to of the outstanding shares of microsoft. that being said, valueact does have a history of holding stakes for quite some period of time, monitoring those companies and their managements and then getting
real business. >>> all right. first up, as airport delays mount to the faa is blaming the spending cuts sequester, forcing thousands of air traffic controllers to take unpaid leave. but republicans blame the obama administration for selectively choosing which cuts would make us all feel the most pain. take a listen to kansas senator jerry moran earlier today. >> it seems as if politics is playing a significant role in the determining what actions the faa are taking, and every indication that i have from conversations with my colleagues is it emanates from the white house. >> all right. here to talk about what i call the phony crisis and the obama democrats' attempt to raise $1.2 trillion in taxes is texas republican congressman, vice chair of the joint economic committee, my friend brady. and democratic strategist steve mcmann and townhall.com's guy benson here with me. mr. kevin brady, welcome. i know you blasted the irs for their fur lows. but i want to just put up -- i don't know if you can see this, probably not. i'm going to read the numbers. we're going to show you that the faa ha
turbulence here in washington tonight. >> as the faa began furloughing air traffic controllers and the flight delays began. the finger pointing quickly followed. >> as a result of administration's poor planning, i would argue political motives, thousands of people were stuck on tarmacs over the last few days. >> congress had an opportunity but republicans made a choice. and this is a result of a choice they made to embrace the sequester as, and i'm quoting republicans, as a victory for the tea party and a home run. >> if the blame was partisan, the pain was not. long lines and missed connections raised bipartisan concerns with republican and democratic senators asking the transportation secretary and head of the faa how much funding do you need to avoid furloughing air traffic controllers and to keep the contract air traffic control towers open and what could you cut from other accounts to avoid or reduced air traffic controller furloughs and contract closures and there were bipartisan proposed solutions. >> what i believe is there ought to be postponement of these furloughs to give all of us
: sequester is faa starting air traffic controller furloughs yesterday it has been warning for months this day would becoming. and delays would follow, so far it is pretty. the usual havoc and delays. you would not know it looking at headline, main street media, airline and flight sshools sinker ravel guru mark murphy said that administration is manufacturing this mess. he does not deny the lines but deny so call reasons. >> i think it just forced, they want it to be difficult, it there is no reason. are we spending more money this year than last year, are we not going to spend a trillion more in 2013, than we spent in 2007. neil: faa has a higher budget this year than last year, i having said that, what is in it for them, if you think about. everything i think trickles down to the president good or bad. >> a few months they played the hand it was a disaster, they walked it back, they saw of it not a disaster we just slowing increase in spending. neil: your facts are dead obut these cuts would be rolled in this is latest more come ing on the travelling, you say it is a nightmare because there
, the sequester. the faa told us they don't have enough people at kennedy so oui not taking off. i said you have to be kidding me? i'm sorry. wield have loved to announce it to people so you could go mack your calls, but the faa has ordered a full stop and we are not allowed to do anything and we have no idea until two minutes ago. >> what about the sequester's impact in a real way on ticket sales particularly for government employees and the like and travel will? i know we reported decent quarters and i know we've been talking about them as investments for the first time ever as opposed to trade. >> there is a concern for business travel and leisure travel. >> the board says on time, and they have no control of whether it's on time. suddenly on time means nothing, david. on time means nothing because if you look at it they don't know. i said, come on, delta has to know. the faa said please tell people it's because we're shorthanded and we don't want to be shorthanded in kennedy when you land, and i thought that was wise. i too, would like enough air traffic controllers to handle kennedy opinion
air traffic controllers must take one day off a week. the faa said planes will have to take off and land more frequently. that would translate to potential longer lines at the airport. joining me is the spokesperson for sfo. can you give me an idea of how many travelers will be out on every given day or? >> what i can tell you, it's about a 10% of reduction. if i'm an air traffic controller, one of my days out of ten is reduced as the furlough. >> reporter: do you have any idea if this will impact the lines? >> i think where we might see some effect is more from the faa perspective. i don't know if it will affect the lines at the airport. but in terms of flight delays, if there's another airport that has congestion issues or staffing issues, even if we're fined locally, we may experience delays to and from the location. it's very much a nationwide issue. >> reporter: it's a juggling act for you. i think one of the things we can expect, there is a procedure we use and that requires an extra controller. not an issue today but if we have bad weather conditions, we might not be able
caught up in the faa sequester and this is probably the first hand account of sewing th seeing this. >> we were about to take off and the pilot comes back and doesn't see me cnbc. the faa says we don't have enough air traffic controllers to take off. i said is this from delta? the faa wanted to make it very clear to everyone onboard is that the reason we're not taking off is because they're shorthanded. oh, jim kramer from cnbc, would you please get the word out that we're not taking off because the faa said you cannot come from orlando. we're not ready. we don't have enough people. it was pretty amazing. >> it was orlando to where? la guard wra? >> orlando to kennedy. >> it was absolutely not a weather delay. we are ready to go. delta is ready to go. the faa says listen, you can't come in. we don't have enough people. we can't do the job. it was remarkable. we said how long? two and a half hours? why is that? >> maybe two and a half hours the faa says they might be able to round up enough people to land the airplanes in kennedy. >> that is stunning. i was watching in horror because
regulators around the world sign off on resuming flights. the faa says it will issue its final directive on the dream liner later this week. >>> gas prices could be cheaper on memorial day then they were at easter this year. drivers will pay $4.06 a gallon in san francisco. that is down three cents a gallon if you haven't noticed in the last week. analysts say the price could go down another 20 cents before the end of next month. that is because crude oil supplies is up. >>> time now 6:21. doctors they are warning teenagers not to do something that is becoming real popular among kids. what some teenagers are now doing and why doctors say it's very dangerous. >>> we have new information about the deadly avalanche in colorado over the weekend. we will tell you the reason the snow boarding group was exploring that back country. you kids should count yourselves lucky. we didn't have u-verse back in my day. you couldn't just... guys... there you are. you know you couldn't just pause a show in one room, then... where was i... you couldn't pause a show in one room then start playing it in anoth
: the faa releasing a statement saying it will quote, be working with the airlines and using a comprehensive set of air traffic management tools to minimize the delays and impacts of lower staffing as we move into the busy summer season. do you find that reassuring? i'm not sure i do. good morning stuart. stuart varney from the fox business network. stuart couldn't we move money over from consultants and grants to help folks out in the control tower? >> let me spell out what we're talking about. $500 million this year for consultants. $474 million in wrapts grants to make communities more liveable and sustainable. obvious, question, martha, take some money out of the consultants bucket and put it into air traffic controlsers bucket to avoid delays. president says can't do that. i don't have the flexibility to target nonessentials. can't do it. so the republicans introduced a bill that would specifically give the president that flexibility, to avoid this pain. he threatened to veto it. that's where we stand this morning. more cuts are coming. more delays are coming. the president does not wan
with the lithium ion batteries. now the head of the airline says it expects faa approval to put dream liners back in service. united airlines have put 787 back on the flight schedule for june. no dream liners can fly until the faa approves the system. >> time now 7:54. within the next month a bicycle beromiter will be installed on market street. all to encourage more people to ride their bikes. installed on the south side of market street between 9th and 10th street. it's going to be 7.5 feet tall. it will be able to show you the number of bicycles that go by. >> i can't ride to work unfortunately. >> a little early. >> 2:30 in the morning. but i do ride my bike when i can. a little beach cruiser . >> i know you do. this morning we have a bunch of slow traffic. i want to mention 5:80 is still a mess. you are wondering why. we had an earlier truck accident. news chopper 2 did take these pictures. it has since been towed away. the two left lanes were the only three open. the traffic is a huge mess coming out of the pass for miles and miles heading west. you can see some of these pictures. unfortuna
as the national transportation safety board takes a closer look at one fire in particular just days after the faa approved boeing's plan to get its fleet back in the air. dan springer is live in seattle. dan? >> reporter: yeah, jon. the faa approved the battery fix even as the company answers tough questions about the fire back in january that led to the dreamliner fleet getting grounded. the plane's lithium ion battery sured a short which led to the failure of all eight cells. boeing's new plan includes a redesigned battery that has more insulation between the cells to prevent what's called thermal runaway. the battery charger has been redesigned to reduce the total amount of energy in the battery so it doesn't work as hard, and it's going to be in a better steel containment box that won't allow oxygen to fuel a fire. the ntsb put boeing on the defensive this morning about its assumptions that turned out to be wrong. >> what we can't do is we can't account for every single possible method of short circuit, particularly what we would consider the unknown unknowns. >> reporter: boeing says it has
immigrations and forced them without being certified by the faa. 167 out of 434th flight training schools, 38% today do not have the required faa certification. unawared ice is often when they revoke certification for flight training providers. they are working with the faa to address this issue. provideurances can you about efforts to improve its communications with the faa? >> we are very far along. a newalso moving from system governing institutions that educates student visa holders. this will help solve the problem. that. get to the silent screen process. under the present system, applicants for asylum must undergo a credible interviewed to determine whether they have a credible fear of persecution in his or her county of origin. but the officer determines that they have a credible fear, the application is a long for further consideration. streamlines the process partly by allowing a screening officer to grants asylum immediately following the interview. if this were to become law, how department in sure they're adequately screen for national security threats? permit togulations confer w
-long delays because apparently the sequester is going to cause it. the f.a.a. beginning furloughs for employees, including 15,000 air traffic controllers. some say it's purely political. >> when the f.a.a. was shut down a few years ago, flights weren't affected. it seems to me like there is a request or directive out there to take steps so that passengers will be inconvenienced and that they'll call their elected officials to get them to take action. >>gretchen: some of the nation's busiest airport including in new york and washington already experiencing delays and longer wait times for security. >> real-life drama for actress reese witherspoon. the oscar winner arrested for disorderly conduct in atlanta after her husband was apparently pulled over for a d.u.i. as he was given a sobriety test reece reportedly got out of the car. the officers told her to get out of the car but she didn't listen. she said do you know my name? you'll be on the evening news. later she apologized. >>steve: is that her mug shot? >>gretchen: it was. >>steve: i think you're supposed to be looking at the
. the ntsb wants to know out prob -- how problems with the batteries went unnoticed by the faa and boeing inspectors during test flights. the problem grounded the jets three months ago. the faa approved a redesigned battery system and this week boeing is install the batteries and dreamliners that happen in operation around the world. small knives are still banned on planes. the tsa reversed its decision to start allowing small knives on board passenger planes. that would have happened this thursday. tsa is now saying it needs more time to reveal all of the public feedback on the decision. unions for flight attendants and pilots loudly protested against the change. many passengers say they really never liked the idea of allowing planes on -- knives on planes. >>> 8:19. some bay area schools are seeing a rise in bomb threats. now, just yesterday, a student at san francisco state found a suspicious package in a music and theater building. inside the package, a note saying a bomb was about to go off. now, police investigated the building, their search proved that threat was a hoax. >> it made
, i think they should furlough the president and congress. >> the faa claims it had no choice but to put 15,000 controllers on unpaid furloughs, which means 10% fewer of them working each day. that could mean delays of 3 1/2 hours in atlanta, two hours in chicago and 1 hour and 20 minutes in laguardia. the airlines are furious and argue there are other places to cut. >> the air traffic controllers have never been furloughed. they should not be furloughed now. >> the controllers complain they're being used as political pawns. >> it's the piece of sequestration that affects americans the most. and i don't think that it's fair that air traffic control, particularly air traffic controllers are being used as a pawn. >> ray lahood has a message. >> tell them to fix sequester, and this will go away. >> the administration seems to be saying that any solution to put the air traffic controllers to work must include an overall roll back of the sequester. which does not look like something that's going to happen any time soon. the next few months could be a nightmare for travelers. >> the
travel season. delays at laguardia, newark, charlotte. the faa on monday blamed staffing and weather and says staffing challenges at regional centers led to ground delays and more spacing between flights around the country. it's the first time the public has felt the impact of across the board budget cuts from the sequester. >> it's already bad enough when they have their regular delays so i can't imagine being stuck here for three hours and not knowing what's going to be next. >> in certain places i believe cutbacks should not be happening. >> i think it's horrible. there's enough problems dealing with delays and security and weather and other things when you're flying. i think they should furlough the president and congress. >> reporter: the faa claims it had no choice but to put 15,000 controllers on unpaid furloughs, which means 10% fewer of them working each day. the agency said that could mean delays of 3 1/2 hours in atlanta, more than 2 hours in chicago, and 1:20 in laguardia. the airlines are furious and argue there are other places to cut. >> the air traffic controllers hav
Search Results 0 to 21 of about 22 (some duplicates have been removed)